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JD ( Business)     07 April 2015

Surcharge & education cess on tds for salary

Dear all ,

 

We have been Paying the TDS for the salaries paid to employees, & the same has been filed for the past quarters.

But while paying the TDS , I saw Education cess, Surcharge & interest apart from penalty.

For the past 2 quarters we paid the tax , but never added Educ cess , surcharge & interest.

Can you please share the percentage at which Education cess , surcharge & interest is to be calculated for the FY 15- 16 , AY - 16 - 17

And are all the above taxes mandatory ? will it implicate on us for not paying it for past 2 quarters? ( it was due to lack of information)

 

Thanks in advance

 



 9 Replies

Vineet Goyal

Vineet Goyal (Assistant Manager - Finance & Accounts)     07 April 2015

Applicable for AY 2015-16 & 2016-17

Surchage is 10% if income exceeds 1 crore, Education Cess 3%,

Interest 1% per month for non deduction of TDS

Interest 1.5% per month for non-deposit of TDS after TDS deduction.

 

You will received TDS default notice from TDSCPC if case you do not correct your mistake.

JD

JD ( Business)     07 April 2015

Originally posted by : Vineet Goyal
Applicable for AY 2015-16 & 2016-17

Surchage is 10% if income exceeds 1 crore, Education Cess 3%,

Interest 1% per month for non deduction of TDS

Interest 1.5% per month for non-deposit of TDS after TDS deduction.

 

You will received TDS default notice from TDSCPC if case you do not correct your mistake.

Thanks mate @ Vineet Goyal

Yeah i'll make sure for the nest month pay i'll add Education cess on the tax payable .

As we pay TDS for the salaries , its merely around Rs. 4000 , so i think surcharge is not required right? rest we have gone by the rules.

 

Kindly share your view.

 

 

Vineet Goyal

Vineet Goyal (Assistant Manager - Finance & Accounts)     07 April 2015

Surchage is not applicable. But you need to pay Interest on late deductions and payments.

JD

JD ( Business)     07 April 2015

Originally posted by : Vineet Goyal
Surchage is not applicable. But you need to pay Interest on late deductions and payments.

what does these mean Late deductions & payments?

In case we pay before 7th of every month , late payment wont be applicable right?

I want info on late deductions, is there any specific date by which we are supposed to deduct ?

 

 

Sriram

Sriram (CMA Final)     07 April 2015

Surcharge and Cess are applicable for payments made to Non Residents.

Not for Domestic Companies

I APolozise... for salaries surcharge and cess applicable..


 

Vineet Goyal

Vineet Goyal (Assistant Manager - Finance & Accounts)     07 April 2015

I am assuming that you have not deducted education cess from salaries paid. If it it deducted then you need to pay interest only on late deposit of TDS.

JD

JD ( Business)     07 April 2015

Yeah till date we havent applied Education cess . (As in only 3 quarters are missed from the date for incorporation)

Tushar Jaiswar

Tushar Jaiswar   09 December 2016

Hello all,

Is cess is applicable on interest on late deposit of salary TDS.  

prudv raj

prudv raj   31 December 2018

Hello all Then when we have to paid that amount and what is the is procedure

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